The Globe and Mail reports in its Tuesday, June 3, edition that Scotia Capital analyst Maher Yaghi upgraded his rating for BCE to "sector outperform" from "sector perform," noting management's aim to "rightsize its dividend [and] immunize the balance sheet from dilution in the U.S." The Globe's David Leeder writes that Mr. Yaghi continues to target the shares at $39. Analysts on average target the shares at $33.92. Mr. Yaghi says in a note: "When BCE reported Q1 results, the company made three important announcements: they cut the dividend by 56 per cent, stopped the DRIP and announced a JV with PSP that will be in charge of building fibre outside the traditional Ziply territory in the U.S. Those three announcements were exactly what we described back in December as key ingredients for us to become more positive on the stock. We still didn't upgrade our recommendation at the time because the company's wireless business showed weak net loading metrics due to elevated churn metrics. In April and May, BCE turned the corner on net adds as both months showed positive loading. We believe in the next few months, BCE will begin to reallocate more dollars toward reducing churn by offering more value added services."